DEPOTS Act

This bill would let the Secretary of Defense write off or eliminate internal accounting charges, such as remaining depreciation or internal debt, tied to capital assets at Department of Defense depots and arsenals. It applies only to assets that do not generate revenue because of mission changes directed by the federal government. Any write-off must be done in a way that ensures earlier cash spent from a revolving fund is recovered. The authority covers only internal military department or Department of Defense balances, not payments owed to commercial contractors, and the Secretary may delegate it to the secretaries of the military departments.

Full text and official record on Congress.gov

Sponsors

• John Cornyn Republican sponsor
• 0 cosponsors